About Bandhan Bank

An interesting development has emerged into India’s banking space in the last two years. Do you know that? Any guesses, No. It’s the foundation of Bandhan Bank, which was earlier a microfinance firm. The news of Bandhan Bank emerged first when the election mode was in a full swing in India. The Reserve Bank of India (RBI) gave an in-principle approval for the setting up of Bandhan Bank in April 2014. After six months, Bandhan Financial Holdings did the formality of incorporating Bandhan Bank as its fully-owned subsidiary in December 2014. The RBI finally gave the green signal in June 2015, shortlisting it and one more from the list of 25 applicants including some of the biggest business groups. The bank took two more months before arriving on the ground in August 2015. In a glittering ceremony that was attended by many distinguished people, Bandhan Bank was officially launched by the Finance Minister Arun Jaitley in Kolkata. It started a new wave of banking in India’s landscape.

The bank started with a bang by opening 501 branches, 50 ATMs and 2,022 doorstep service centres (DSCs). And when it is incepted to convert the unbanked section of the society into the banked community, the massive expansion of the bank within 2 years time was very much on the cards. Now when you see the scale of operation, you will find the branches and ATMs above 800 and 270, respectively. While DSCs are well past 2,400. This proves the bank’s point of enabling banking solutions for all. Irrespective of the locations, the bank is moving steadily on a path to get its roots stronger in urban, semi-urban and rural locations of the country.

With notable shareholders like Small Industries Development Bank of India, International Finance Corporation (IFC) and Caladium Investment Pte. Ltd., it is time for the bank to achieve more growth.

Mumbai, the capital of Maharashtra and the financial capital of India, also has branches of Bandhan Bank. As much as six branches are there in the city. So, your search of an ideal banker ends with Bandhan Bank. The addresses of the bank branches, along with other details can be seen in the below table.

Products Offered by Bandhan Bank in Mumbai

Looking for a suitable loan to fulfill your family’s dream of settling at a home in Mumbai? Why don’t you try out the home loan of Bandhan Bank? It comes with attractive rates. Riding a bike with your girlfriend in the city of Mumbai could well be what you would want, right! You can get that desire fulfilled with the help of a 2-wheeler loan. The products do not end here as the list is big. You can find the explanation for all the loan products in the below table.

Basic Details of Loans from Bandhan Bank in Mumbai

Product

Eligibility

Loan amount

Interest Rate

Processing Fee

Tenure

Home Loan

Minimum age for application-23 years

Maximum age permitted at the time of loan maturity-65 years

Depends upon your income and repayment capability

12.41% - 13.72%

1% of the loan amount+plus applicable taxes

Minimum- ₹ 5,000+plus applicable taxes

15 Years

Two-Wheeler Loan

Minimum age for application-23 years

Maximum age permitted at the time of loan maturity-65 years

₹ 10,000-1,50,000

Linked to MCLR

3% of the loan amount+plus applicable taxes

1-3 Years

Loan Against Property

Minimum age for application-23 years

Maximum age permitted at the time of loan maturity-65 years

Depends upon your monthly or disposable income as well as other conditions

Varies from individual to individual

1% of the loan amount+plus applicable taxes

Minimum- ₹ 5,000+plus applicable taxes

Upto 15 Years

Loan Against Term Deposit

Term deposit account holders can avail the facility

A maximum of 90% of the term deposit amount

Linked to MCLR

Zero processing fee

Upto 3 Years

Samriddhi Business Loan

Available for individual, prorietory or partnership firms

Minimum age for application-23 years

Maximum age permitted at the time of loan maturity-60 years

A minimum of 2-year vigil in the same line of business is needed. However, new entrepreneurs can also be eligible.

Upto ₹ 25,00,000

Linked to MCLR

1% of the loan amount+plus applicable taxes

Upto 5 Years

Equipment Loan

Available for individual, prorietory or partnership firms

Minimum age for application-23 years

Maximum age permitted at the time of loan maturity-60 years

A minimum of 2-year vigil in the same line of business is needed. However, new entrepreneurs can also be eligible.

Upto ₹ 10,00,000

Linked to MCLR

1% of the loan amount+plus applicable taxes

Upto 5 Years

Commercial Vehicle Loan

Available for individual, prorietory or partnership firms

Minimum age for application-23 years

Maximum age permitted at the time of loan maturity-60 years

A minimum of 2-year vigil in the same line of business is needed. However, new entrepreneurs can also be eligible.

Upto ₹ 10,00,000

Linked to MCLR

1% of the loan amount+plus applicable taxes

Upto 5 Years

Working Capital Loan

MSMEs running into profits

Depends on the bank's assessment regarding your repayment capability

Linked to MCLR

1% of the loan amount+plus applicable taxes

Repayable on demand

Term Loan

Available for individual, prorietory or partnership firms

Minimum age for application-23 years

Maximum age permitted at the time of loan maturity-60 years

A minimum of 2-year vigil in the same line of business is needed. However, new entrepreneurs can also be eligible.

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